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Stellantis won't race to split electric vehicles from fossil fuel cars

MILAN - Stellantis is not considering splitting its electric vehicle (EV) business from its legacy combustion engine operation, its finance chief said on Thursday, as the carmaker presented above-expectation revenue data for the first quarter. Chief Financial Officer Richard Palmer told analysts he did not see huge benefits in the kind of separations pursued by rivals such as France's Renault and U.S. Ford. "We need to manage the company and the assets we have through this transition," he said. "There are benefits to having the cash flow being generated by the internal combustion business for the investments we need to make." Palmer said the group, formed by a merger last year of Fiat Chrysler and Peugeot maker PSA, was not averse to considering adjusting its structure "but we aren't anticipating any big changes." Palmer's comments came after the world's fourth largest carmaker said its net revenue rose 12% to 41.5 billion euros ($44.1 billion) in the January-March period, as strong pricing and the type of vehicles sold helped offset the impact of the semiconductor shortage on volumes. That topped analyst expectations of 36.9 billion euros, according to a Reuters poll. Milan-listed shares were up 0.5% by 1415 GMT, in line with Italy's blue-chip index. The impact of the chip crunch was evident in the decline in shipment figures which fell 12% in the quarter to 1.374 million vehicles. It was a similar story for Germany's BMW which posted higher revenues on Thursday and a decline in car sales. Riding the Recovery Stellantis, whose brands also include Citroen, Jeep and Maserati, confirmed its 2022 forecasts for a double-digit adjusted operating income margin, after 11.8% last year, and a positive cash-flow despite supply and inflationary headwinds. Morgan Stanley analysts said after the results that Stellantis had better management than many peers and benefited from its significant exposure to a stronger U.S. economy and a European recovery from the COVID-19 pandemic. They also said it was less affected by a slowing Chinese economy. Palmer said it was important for the group to maintain double-digit margins and keep delivering positive cash flows. "A 12% increase in revenue with a 12% decrease in volumes indicates a very strong performance on price and mix, which augurs well for our margin performance," he said. He said semiconductor supply problems were expected to ease this year with continued improvements in 2023.

Values snowball for legendary Tucker Sno-Cats, latest toys of the super rich

Here's a fun-sounding vehicle perfect for the cold and snow that's currently gripping much of North America. Tucker — no, not that Tucker — just marked its 75th anniversary making the Sno-Cat, its orange-painted, four-tread snow vehicles that have inspired backcountry skiers, collectors — and increasingly, the super rich. Bloomberg in a recent story writes that demand for the Medford, Ore.-based company's products is soaring on demand from the wealthy, who need a way to get to their backcountry mountain retreats. They're also in demand from collectors and gearheads who also love snow, like two anonymous collectors who are believed to have amassed more than 200 vintage Sno-Cats. The value of vintage models has reportedly tripled in the past five years to well over $100,000 for a fully restored rig. Tucker Sno-Cat Corp. claims to be the world's oldest surviving snow vehicle manufacturer, launched by E.M. Tucker in 1942 out of a desire to design a vehicle for traveling over the kind of deep, soft snow found in the Rogue River Valley of his childhood. It was four Tucker Sno-Cat machines that helped English explorer Vivian Fuchs and his 12-man party make the first 2,158-mile overland crossing of Antarctica in 1957-58. While many of the company's competitors either shuttered or adapted to serving ski resorts with wider, heavier treads, Tucker has stuck to its formula of making lightweight vehicles to travel over deep snow. Many Tuckers use Chrysler's flat six-cylinder engine, or its Dodge Hemi V8 for larger Sno-Cats, mounted rear or centrally, with basic, no-frills aluminum cabins. Sno-Cats all have four articulating tracks that are independently sprung, powered and pivoted at the drive axle. Track options come in three different types: conventional steel grouser belt track, rubber-coated aluminum grouser belt track, and one-piece all-rubber track. Steering is hydraulically controlled by pivoting the front and rear axles for smooth movement over undulating terrain with minimal disturbance of the ground cover. The company today makes 75 to 100 Sno-Cats a year for customers including the U.S. military, oil-drilling crews in cold places like Alaska and North Dakota, and utilities. But demand is so high that it's launched a profitable service reselling and refurbishing old machines. E.M. Tucker's grandson, Jeff McNeil, now head of this division, scours Google Earth for abandoned Sno-Cats rusting in backyards that he might be able to acquire and fix up.

Dodge Viper production to end after 2017

We can't say we're surprised, but we're still saddened to report that the Dodge Viper will not live on past the 2017 model year. It's had a solid 25-year run, though, and that's worth celebrating. Fiat Chrysler Automobiles does just that for the Viper's final model year, with five special editions (some of which seem less special than others, admittedly): The 1:28 Edition ACR, GTS-R Commemorative Edition ACR, VoooDoo II Edition ACR, Snakeskin Edition GTC, and Dodge Dealer Edition ACR. Instead of running through what makes each of these 2017 Vipers special, we'll direct your attention to the press release below and the images above. All but the Dodge Dealer Edition commemorate memorable Viper models of the past 25 years, and the GTS-R is probably the pick of the litter with its classic blue-on-white paint scheme. Unless you prefer to err on the side of gaudy, in which case Dodge has you (and your car) covered with Snakeskin Green. If none of these special-edition Viper models strikes your fancy but you'd still like to park a 2017 Viper in your garage, fret not. Dodge is still offering its "1 of 1" customization program for the Viper's final year of production. Finally, instead of dwelling on the past, even when that past is as exciting as the Viper's, let's choose to look to the future with the only logical question left unanswered: What's next? Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.